Anytime Anywhere Payments Series: Vijay Sondhi, CEO of NMI | Episode 18

Picture a world where all transactions are so seamless, they feel non-existent. Well, that's the future of payments we're exploring today with the insightful NMI CEO, Vijay Sondhi. Promising an enlightening discussion, we dive into the realm of Anytime, Anywhere Payments. An idea that's all about eliminating the friction from payments and creating experiences that are so smooth, they feel like they never happened. We delve into the evolution of smartphone payments, looking at how these handy devices are becoming the ultimate tools for transactions. Tune in as Vijay shares how different sectors such as ISOs, ISVs, Payfacs, and banks should approach this concept for a frictionless future.

Interestingly, the influence of Gen Z on the future of payments was also discussed. Gen Z, the digital natives armed with smartphones and short attention spans, are leading the charge towards a future of frictionless payments. They demand speed, convenience, and security, which are becoming the benchmarks for payment experiences. Vijay also pointed out that the COVID-19 pandemic has accelerated this trend, leading to a paradigm shift with card-not-present transactions becoming the new norm.

For those involved in the payments industry, this episode offers an insightful exploration into the future. It serves as a reminder to always strive to deliver the best payment experience - the one that never happened.

Ever wondered how those black and white square codes we see everywhere are revolutionizing the world of payments? We're about to decode this mystery with our guest, Sarah Hoisington, the VP of Strategy and Marketing for Matera. Join us as Sarah provides a comprehensive exploration of the evolution of QR codes and their role in transforming traditional payment methods, especially in countries like Brazil, China, and India. She'll also discuss their emerging role in the U.S. and how they're becoming a critical component in the shift towards more pay-by-bank transactions.

Don't miss out as we dive into the future of instant payments with QR codes and how they're shaping the payments industry. Sarah helps us understand how the combination of QR codes and API-based technology is enhancing the user experience and the potential they hold for facilitating instant payments. You'll also get a sneak peek into how Matera is assisting financial institutions in the U.S. to offer instant payments. The fusion of QR codes and instant payments promises a revolution in the world of transactions, propelling us into the future of anytime anywhere payments.

In this episode we’ll navigate the evolving landscape of Omnichannel Commerce. Join me and Debbie Guerra, Chief Product Officer of ACI Worldwide, as we decode the journey from traditional in-store experiences to the dynamic world of accepting diverse payment types across numerous channels (in-store, online and mobile.) We'll dig into the crucial role that ACI Worldwide is playing in driving this change, and what the future might hold for Omnichannel Commerce. You'll also gain insights into the concept of Anytime Anywhere Payments, as highlighted in the Be Solid campaign in partnership with NMI, and how it's shaping consumer demands and retail trends.

 As we dive deeper, we'll explore the rising trend of digital fraud and the shift to real-time payments including how these trends are reshaping the face of Omnichannel Commerce? From the use of artificial intelligence and machine learning in fraud detection to the impact of FedNow on real-time account-to-account payments, we'll cover it all. You'll walk away with a comprehensive understanding of how intelligent payments orchestration is empowering merchants with greater control over their payments infrastructure, making it easier to accept alternative payment methods, and facilitating smoother international expansion. 

What if your digital wallet could do more than just hold cards? What if it could become a one-stop solution for your identification, boarding passes, concert tickets and more? That's exactly what we're exploring in our intriguing chat with Jenny Cheng, VP and GM of Google Wallets. We venture into the fascinating world of mobile wallets and digital payments, shedding light on how the pandemic has shifted our perspectives. Hear from Jenny about Google Wallet's core mission of accessibility and the broader applications of mobile wallets, such as digital driver's licenses, barcodes, QR codes and more. 
 
 We learn more about Google Wallet's security, its commitment to user's data and payment credentials protection, and how it stands out from the crowd. Jenny Cheng shares her thoughts on the potential of the digital payments space over the next 5 to 7 years. We also delve into the collaborative aspect of this evolution, discussing the necessity to involve consumers, merchants, and the broader ecosystem in this transition. In summary the episodes highlighted the potential of mobile wallets beyond just payments and underscored the importance of security in this digital transition.

The retail industry is undergoing a significant transformation. As we step into a post-pandemic era, the advent of self-service retail and anytime anywhere payments is revolutionizing how consumers shop and pay for their purchases. In the latest episode of our podcast, we had the pleasure of hosting Elyssa Steiner, the CMO of Cantaloupe, to discuss these dynamic shifts in retail.

We also discussed the expansion of self-service retail solutions across various verticals. Airports, gas stations, gym memberships, and residential buildings are just a few areas where these solutions are becoming increasingly common. The rise of cashless food and beverage vending machines across these sectors is reshaping how businesses deliver services and products.

The future of retail is set to be even more digitized and personalized. Elyssa predicts that AI technology, smart coolers, and other advancements will continue to drive the growth of self-service retail.

Step into the fascinating world of text-to-pay and conversational commerce with the trailblazing CEO of Authvia, Chris Brunner. Together, we travel through time, dissecting the evolution of text-to-pay, its plethora of applications, and the exciting prospects it holds for the future.

 We discuss how Authvia has revolutionized payments with their innovative suite of solutions that enables merchants to accept payments over text messaging. This means reshaping the payment experience for consumers, ensuring it's not just about convenience, but also security. From pharmacies to vets, and even companies aiming to recover payments from late payers, the versatility of Authvia's solution is truly remarkable. Additionally, we venture into the importance of encryption, the role of cloud-based wallets, and the impact of COVID-19 on the rapid rise of text-to-pay solutions.

 We also discuss how Authvia seeks to give consumers control over their personal data, and their right to choose which data to share with merchants. In the near future,  text-to-pay will no longer be a novelty but an integral part of commerce. Join us as we explore the ever-evolving landscape of payments and conversational commerce. 

Are you navigating the complex realm of security and compliance in payments? Brace yourself for an insightful journey with our guest, Kathryn McCall, Chief Legal and Compliance Officer for Trustly Inc. We promise an engaging discussion on how Trustly, a leading global player in open banking payments, is reshaping the field with a cost-effective alternative to traditional payment methods. Learn about Trustly’s unique approach to fighting friendly fraud, the significance of know your customer checks, and the necessity of adherence to the Bank Secrecy Act and Financial Crimes Enforcement Network guidelines.
 
 What are the intricacies of anti-money laundering and compliance? Kathryn shares her expertise on the challenges in this area, underlining the importance of continuous monitoring for suspicious activity. We delve into the delicate yet essential balance between prompt payments and stringent security measures. Kathryn also shares her thoughts on creating a compliance culture, the inevitable increase in regulations, and how Trustly's expert team artfully manage their compliance programs. So, buckle up for this riveting conversation and get ready to leave with a enriching understanding of compliance and security in the payments industry!

Get ready for an exclusive ride into the intriguing world of online fraud prevention with Scott Przybyla, the Vice President of Global Channel Sales for Kount – an Equifax Company. This episode unravels the fascinating origins of Kount, its go-to-market strategy, and its evolution under the banner of Equifax. Understand Kount’s go-to market strategy consisting of direct and indirect sales, and the innovative white label channel strategy. Scott also walks through the history of fraud prevention and its evolution over the years.
 
Ever wondered about the intricacies of the fraud ecosystem and the critical roles of each player within it? Prepare for an exploration of the shifting fraud landscape, as we demystify the importance of personal security for consumers and the variety of threats that extend beyond mere payment fraud. We’ll also take a look into the future of fraud prevention. Discover how Kount, now under the wing of Equifax, is developing an end-to-end fraud and identity protection platform, combining physical and digital identity traits to create a more complete consumer identity profile. This is an exciting episode on fraud prevention you won't want to miss!

Get ready to unlock the future of B2B payments with our guest, Chad Wallace, Global Head of Commercial Solutions at Mastercard. With his expertise in consumer and corporate banking, Chad sheds light on the shift from traditional cash and checks to digital payments - a transition fueled by the pandemic, evolving consumer expectations, and the influx of new talent in finance roles. He also introduces us to the vast spectrum of products and services his team brings to the table, including commercial cards, virtual cards, and accounts payable products.
 
 From Mastercard's partnership with emerging global Fintechs to building scalable, human-centered solutions, our conversation takes you through the dynamics of payments industry. Mastercard's collaboration with Fintechs not only builds solutions but also ideates and provides data necessary to reconcile books. Chad further underlines the importance of digital solutions and how data can be harnessed to maximize working capital, improve payment status and maintain an ISO-based framework. 
 
 As we look into the crystal ball, Chad paints a picture of the future of B2B payments marked by human-focused design, digitization, interconnectivity, and the growing use of AI. He elaborates on how Mastercard is leveraging these trends with their innovative “beyond card” strategy and embedded finance use cases. As we wrap up, Chad leaves us with his insights on security, value-added services, and the criticality of providing a consumer-grade experience for buyers and suppliers. Don't miss out on this enlightening discussion that redefines the future of B2B payments.

Our special guest in this episode is Anil Goyal, the CEO of Corserv. Anil provides fascinating insights into the highly concentrated world of card issuing and explores how innovative technologies like APIs, B2B payments and virtual cards are reshaping the industry. Tune in as we journey with Anil, from his early days in New Delhi, India, to his pinnacle role at Corserv, and dissect what sets Corserv apart in the marketplace along the way.

The future of card issuing is here, and it's more exciting than ever. Anil offers a forward-thinking view on the arrival of new entrants and explores how technology levels the playing field and makes launching card programs cost-effective. 

Then, we continue with a deep dive into the cutting-edge innovations fueling the digitization of payments, reducing payment friction and mitigating fraud. Join us as Anil reveals a thrilling future for the industry and offers predictions on the increasing role of virtual cards, mobile enablement and artificial intelligence in card issuing. Don't miss this episode if you're eager to update your knowledge on the rapidly evolving card-issuing landscape.